Masahiro Tanaka is having the kind of spring training that opens the spigots of the imagination – and no, we’re not obsessing over his performance in the combined no-hitter against the Tigers on Friday. It’s everything else about the Japanese right-hander that bodes well for 2017.

Velocity? Check. The fastball is sitting comfortably in the 92-93 mph range.

Control? Double-check. The two walks issued against Detroit were Tanaka’s first in 13.1 innings. And while we’re admiring those March numbers, the Yankees’ ace hasn’t allowed a run yet.

Dominance? One more check. Tanaka has struck out 19, thanks to the splitter which is in its mid-summer glory. If March momentum counts for anything, Tanaka is as locked and loaded as he’s been since signing with the Bombers in 2014.

So if Tanaka is legitimately headed toward his best season, what happens when – not if – he opts out in November? The right-hander signed a seven-year, $155 million deal in 2014, but it includes an escape clause after 2017. Tanaka insists he won’t discuss free agency before then, but the Yankees aren’t naïve. They’re aware that a monstrously difficult decision could be just around the corner.

Do they let Tanaka look for a higher bidder who’s willing to give him an extra two to three years beyond 2020? Would the Yankees really let their best pitcher go just before the launch of a new golden era in 2018? Or does GM Brian Cashman factor in the partial tear in Tanaka’s ulnar collateral ligament, knowing it could blow out at any time?

Our vote? If Tanaka opts out, let him go. Here’s why:

While it’s possible Tanaka could pitch the rest of career without fully rupturing the UCL, the risk nevertheless increases every year, especially after he begins his age-33 season in 2021. The reliance on the splitter is reason enough to be wary.

It’s true, the Yankees have so far enjoyed a terrific return on their investment; Tanaka has consistently been the Bombers’ best pitcher and ranks just a notch below the American League’s elite. He is a dedicated professional, serious and mature. Everyone in the organization likes him.

But none of this outweighs the risk of re-signing Tanaka and committing to six or seven more years. Doing so would leave the Yankees without a proven ace in 2018, but their younger arms should be major-league ready by then, and, besides, the $67 million the Yankees wouldn’t be spending on Tanaka could be used for the coming free agency bonanza.

Among those who’ll be available after 2018 are Bryce Harper, Manny Machado, Clayton Kershaw and Dallas Keuchel. With CC Sabathia and Alex Rodriguez already coming off the books after this season, the windfall could be tempting enough for Hal Steinbrenner to go for it – an all-in stimulus the likes of the Yankees haven’t experienced since 2009.

There are two other possible scenarios here. The first would send Tanaka packing by the trade deadline, assuming the Yankees crash and are out of the running by July. If healthy, Tanaka could net blue chip prospects the way Aroldis Chapman did when he was dealt to the Cubs last summer.

However, Tanaka has full no-trade powers and there’s no indication he’d want to leave the Yankees half-way through the season. That brings the conversation to scenario No. 2: Tanaka doesn’t opt out. He stays.

For most other players, jettisoning the opt-out would be heresy: Why ignore such a powerful clause? Tanaka, however, is governed by a different code of conduct. He believes strongly in honoring a contract; it’s one reason why the Yankees believe he chose not to undergo surgery after the tear in his elbow was first discovered.

One member of the organization said at the time, “I honestly think (Tanaka) didn’t want to disappoint us after we spent so much money to get him. He wanted people to respect him and not think was getting paid for doing nothing.”

That was just one team official’s opinion; Tanaka himself has yet to speak openly about his opt-out, his injury or being able to leverage the Yankees for more money this winter. As good a guy as he is, Tanaka has been mostly a mystery to those within the organization.

He never told the Yankees, for example, that his elbow was bothering him in 2015. It was only after the season that agent Casey Close reported Tanaka was experiencing discomfort from a bone spur, specifically when getting full arm extension on his splitter.

The Yankees admit were taken by surprise, unsure why Tanaka waited so long to come clean. The right-hander was nevertheless fully recovered in 2016, when he made 31 starts and fell just shy of 200 innings. Tanaka did, however, miss a start at the end of the year because of a mild strain to the flexor tendon.

The Yankees insist that injury, as well as the 2015 bone spur, are unrelated to the tear in the UCL. Still, it’s a stretch to say they are not part of the same kinetic chain, and that the risk to Tanaka’s long-term health isn’t real.

That’s why the Yankees should strongly consider letting Tanaka roll if he so chooses. If Tanaka can find the money and the years elsewhere, the Yankees should shake his hand and wish him well. Tanaka has been a fine ace, but like almost anyone else in the game, he can be replaced.